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Israel Counts on Egypt Ties to Overcome $1.7 Billion Gas Hurdle

  • Israeli minister responds to Egyptian freeze on gas talks
  • Israel seeks to export to Egypt, Turkey, Greece, Europe
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Israel is banking on its “close ties” with Egypt to help restart gas export talks, Energy Minister Yuval Steinitz said, following an Egyptian decision to halt negotiations. Israel is also planning to advance exports to other markets including Jordan, Turkey and Western Europe, he said.

“The State of Israel assigns great importance to its security and energy ties with Egypt in their entirety, and hopes that due to its close bilateral ties, it will be possible to continue to move forward on the gas issue soon,” Steinitz said on Monday. Israel must develop its offshore gas fields quickly to achieve energy security, he said.